Retail Property with Vacant
For Sale
$1,250,000
1000 N Cage Boulevard, Pharr, TX 78577
COMMERCIAL - Pharr, TX
Property Size6,264 SF
Lot Size0.52 Acres
Price / SF$199.55
Days on Market190
Property Features for 1000 N Cage Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B
Parking
30
Appliances
Electric Water Heater
Subdivision
Browning
Lot features
Strip Mall
Directions
From I-2/Expressway 83, exit north onto N Cage Blvd and continue approximately 1 mile. Property is located on the east side of N Cage Blvd at 1000 N Cage Blvd, Pharr, TX 78577.
Standard status
Active
APN
B470000000000200
Size
6,264 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19822
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2014
Floors in Building
1
Building materials
Stucco
Roof type
Flat
Listing Agency:
API Real Estate
(956) 412-1412
Listed By:
Sergio A. Adame · License #0534881
(210) 845-4419
Added: Feb 5
Changed: Aug 4
Last Checked: Aug 14 at 10:06AM
MLS# 493594
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,264-square-foot retail property occupies 0.5165 acres along N Cage Boulevard in Pharr. Constructed in 2014, the building features stucco exterior walls, a flat roof, central heating, central air conditioning, and an electric water heater. The property carries B zoning, and vacant spaces are available for lease, supporting either immediate occupancy or an owner-user leasing strategy.
The site has direct access to I-2 and Expressway 83 and is positioned near national retailers, dense residential neighborhoods, and a substantial daytime population. Its corridor location provides exposure to established commercial activity and surrounding residential demand.
The site has direct access to I-2 and Expressway 83 and is positioned near national retailers, dense residential neighborhoods, and a substantial daytime population. Its corridor location provides exposure to established commercial activity and surrounding residential demand.
Key Highlights
- 6,264‑square‑foot retail property on 0.5165 acres
- B zoning supports the identified commercial use
- Vacant spaces available for lease or owner‑user occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,778
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,095,560
$2.1M
Cap Rate 7%
$1,496,829
$1.5M
Cap Rate 9%
$1,164,200
$1.2M
Market Conditions
NOI Build-Up for 6,264 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$192.4K $30.72/SF
− Vacancy
−$52.7K −$8.42/SF
EGI
$139.7K $22.30/SF
− OpEx
−$34.9K −$5.58/SF
NOI
$104.8K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,095,560
Cap Rate 7%
$1,496,829
Cap Rate 9%
$1,164,200
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $104,778 @ 7.0% cap · market cap 8.38%
Second Best
Healthcare Medical
$1.32M
$1.16M – $1.54M
NOI $92,684 @ 7.0% cap · market cap 7.41%
Theoretical Best
Hotel Hospitality
$4.72M
$4.13M – $5.50M
NOI $330,269 @ 7.0% cap · market cap 26.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - B-zoned retail property offers vacant space for lease, central HVAC, and direct access to I-2 and Expressway 83.
Where is this retail space located?
The property is located at 1000 N Cage Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6,264‑square‑foot retail property on 0.5165 acres; B zoning supports the identified commercial use; Vacant spaces available for lease or owner‑user occupancy
